Web 3 will play a role in major economic changes!

It is a dream of ours to be freed from where we are bound in chains from the way we walk our lives. Web 3 was born to realize that dream. It is an Internet-based facility that allows self-ownership without the need for intermediaries. The co-founder of Ethereum is the inventor of the Web 3 term. Web 3 is the internet infrastructure that is built on blockchain or cryptocurrency and NFT platforms. But in simple terms, Web 3 is the Internet facility under your control without any third party or intermediary.

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With the development of technology, we have become involved in the Internet. Nowadays, everything from our standard of living to our business and trade jobs are becoming internet based. Even online based trading like crypto trading is becoming more popular day by day. People are constantly trading in this online based digital currency. The number of investors in crypto is increasing day by day. But there are many industries or crypto or financial exchanges that are primarily done by third parties or intermediaries or done by themselves.

Besides, the internet we use today is controlled by tech giants like Facebook, Amazon and Google. However, it is not controlled by any third party as it is owned by the companies that are based on Web3. Moreover, transactions through web 3 based platforms are quite secure and transparent as compared to traditional transactions. If a financial institution launches the Internet version there will be no regulatory powers. All will benefit equally. Even if financial institutions conduct their economic activities through Web 3, it will cause major changes in business. As if we are different big financial institutions of the world are investing money for Web 3 technology.

One of the distinguishing features of Web 3 is its own ownership. Where different users or account holders in financial institutions are harassed for various reasons. Web 3 eliminates all these difficulties there. Due to its many advantages, many big companies are investing in it nowadays. Basically, many organizations will be able to strengthen their position through Web3. And getting involved with Web 3 to make your organization strong and popular. Because Web 3 is transforming the traditional banking system or financial system into a modern model where the users are benefiting as well as those who are working there are also getting different benefits. So it can bring a big change in the financial sector if all financial institutions use it.